Why buy residential title insurance?

Answer:

Buying residential title insurance is important home
and real estate investment ownership protection. To understand why you should
buy title insurance coverage for real estate, here are some basic facts about a
property title and title insurance.

General Facts about Title and Real Estate Title
Insuring

Having the title of the property means you are the
owner. A title insurance policy protects the title policy owner from defects in
title documents and legal claims to the property. Such claims may arise from
events prior to signing the title policy from misinterpreted deeds, errors in
the public records, falsified deeds, etc.

That is why lenders require that the homebuyer
purchases lenders real estate title insurance policy (mortgagee's policy) for
the loan amount. Homeowners are advised to buy title insurance coverage for the
full property value.

For title issues arising from events occurred after title policy is
signed, related mostly to identity fraud and forged deeds, homeowners are
advised to purchase extended title insurance coverage.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.